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Lavena Q3 profit falls YOY

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Lavena Q3 profit falls YOY

Lavena AD said its normalized net income for the third quarter amounted to 49 stotinki per share, a decrease of 47.1% from 92 stotinki per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 130,000 leva, a decrease of 47.1% from 245,630 leva in the year-earlier period.

The normalized profit margin declined to 3.8% from 8.0% in the year-earlier period.

Total revenue climbed 11.0% year over year to 3.4 million leva from 3.1 million leva, and total operating expenses grew 18.2% on an annual basis to 3.1 million leva from 2.6 million leva.

Reported net income fell 47.2% from the prior-year period to 187,000 leva, or 70 stotinki per share, from 354,000 leva, or 1.33 leva per share.

As of Nov. 26, US$1 was equivalent to 1.84 leva.